Gladstone Names President

Gladstone Investment Corp. (Nasdaq: GAIN) has named David Dullum as president. Dullum previously had served as a senior managing director of Gladstone's external investment advisor, Gladstone Management Corp. He also is president of a blank-check acquisition company called Harbor Acquisition Corp. (AMEX: HAC).



Gladstone Investment Corp. (NASDAQ:GAIN) (the Company) announced today that the Board of Directors elected David A.R. Dullum as President of the Company. Mr. Dullum has served as a member of the Company's Board of Directors since June 2005. Prior to his election as President, Mr. Dullum had served as a Senior Managing Director of the Company's external investment adviser, Gladstone Management Corporation (the Adviser). From 1995 to the present, Mr. Dullum has been a partner of New England Partners, a venture capital firm focused on investments in small and medium-sized business in the Mid-Atlantic and New England regions. Mr. Dullum is also the president and a director of Harbor Acquisition Corporation (AMEX:HAC). Mr. Dullum also serves as a director of Simkar Corporation, a manufacturer of industrial and consumer lighting products. Mr. Dullum has also been a director of Gladstone Capital Corporation since August 2001, and a director of Gladstone Commercial Corporation since August 2003. Mr. Dullum holds an MBA from Stanford Graduate School of Business and a BME from the Georgia Institute of Technology.

Also on April 8, 2008, the Company's former President, George Stelljes III, was elected as a Vice Chairman of the Board of Directors of the Company. Mr. Stelljes will continue to serve as the Chief Investment Officer and Assistant Secretary of the Company.

Gladstone Investment Corporation is an investment company that seeks to invest in subordinated loans, mezzanine debt, preferred stock and warrants to purchase common stock of small and medium-sized companies in connection with buyouts and other recapitalizations. Gladstone Investment also invests in senior and subordinated syndicated loans. For more information please visit our website at